On December 17, 2015, Martin Shkreli was terminated as Chief Executive Officer and resigned as a member of the board of directors of KaloBios Pharmaceuticals, Inc. (Nasdaq: KBIO) (the “Company”). In addition, on December 17, 2015, Tony Chase resigned from the Company’s Board of Directors and from its Audit Committee. There were no disagreements with the Company that led to the resignations of Mr. Shkreli and Mr. Chase.
The Company’s press release announcing the foregoing is attached as Exhibit 99.1 hereto.